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EMC Insurance Q3 Net Income Increases

Net income totalled $5.05m for the third quarter of 2009

EMC Insurance Group has reported an operating income of $3.15m ($0.24 per share) for the third quarter ended September 30, 2009, compared to an operating loss of $0.3m ($0.02 per share) for the third quarter of 2008.

For the nine-month period ended September 30, 2009, the operating income was $20.92m ($1.58 per share) compared to $8.64m ($0.63 per share) for the same period in 2008.

The net income, including realised investment gains and losses, totalled $5.05m ($0.38 per share) for the third quarter of 2009 compared to a net loss of $9.46m ($0.70 per share) for the third quarter of 2008.

For the nine-month period ended September 30, 2009, the net income was $17.82m ($1.35 per share) compared to a net loss of $2.18m ($0.16 per share) for the same period in 2008.

The premiums earned remained virtually flat at $96.73m for the three months ended September 30, 2009, compared to $96.41m for the same period in 2008. For the nine months ended September 30, 2009, the premiums earned decreased 0.9% to $285.29m from $288.01m for the same period in 2008.